Philadelphia Financial Management of San Francisco, LLC

CIK 0001351407 · Q1 2026

13F Equity AUM

$345.5M

-62.9% QoQ

Positions

-13 QoQ

AUM Rank

#5,421

Top 44%

Skill Alpha (FF)

+2.6%/yr^ns

No Clear Edge

Rank #994 · Top 12%

vs S&P +0.8%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 26.9%Top 10: 42.8%Top 20: 67.9%

GS9.7%

AXS-PE4.3%

TH4.3%

HCI4.3%

USAU4.3%

BFH3.7%

AIG3.6%

LNC2.9%

PNFP2.9%

EZPW2.7%

Others (33)57.2%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services70.4%

Industrials10.0%

Consumer Cyclical7.4%

Energy5.7%

Basic Materials5.1%

Other1.5%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 43Median: 2.20%Avg: 2.33%

0–0.5%

4(0.4%)

0.5–1%

3(2.0%)

1–3%

29(63.4%)

3–5%

6(24.6%)

5%+

1(9.7%)

Count of positions per weight bucket — (%) = combined portfolio weight

Loading summary cards...

Portfolio Overlap

Shared: 41Unique: 2vs 20 funds

0.6%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

GEODE CAPITAL MANAGEMENT, LLC

1.2%

BlackRock, Inc.

VANGUARD CAPITAL MANAGEMENT LLC

1.2%

STATE STREET CORP

1.2%

VANGUARD PORTFOLIO MANAGEMENT LLC

1.4%

MORGAN STANLEY

0.7%

BANK OF AMERICA CORP /DE/

0.8%

JPMORGAN CHASE & CO

0.7%

FMR LLC

0.9%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

Loading overlap analysis...

Position Changes This Quarter

New25Increased5Decreased13Exited38

New Positions

GS9.7%

+40K

AXS-PE4.3%

+148K

LNC2.9%

+285K

PNFP2.9%

+116K

OPLN2.7%

+322K

AON2.6%

+28K

AER2.5%

+64K

BOH2.5%

+118K

EWBC2.5%

+82K

SF2.4%

+113K

Increased

NFE0.1%

+390K(+186%)

LEGH2.5%

+281K(+209%)

SOC2.2%

+126K(+38%)

SKBL0.6%

+51K(+8%)

PFSI1.8%

+26K(+58%)

Decreased

TH4.3%

-1,687,782(-51%)

MCHB2.3%

-774,165(-59%)

AZ0.1%

-572,305(-92%)

EZPW2.7%

-347,872(-48%)

AIG3.6%

-284,661(-63%)

HG1.9%

-271,992(-55%)

USAU4.3%

-239,832(-20%)

NODK0.1%

-142,961(-91%)

HCI4.3%

-63,977(-40%)

CUBI2.5%

-38,029(-23%)

Exited

-1,335,000

-400,000

-300,000

-1,500,000

-550,000

-700,000

-254,590

PNFP

-206,171

HUT

-400,000

XZO

-710,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

Loading position changes...

Holdings

Loading holdings...